Press release
DocuSign Announces Third Quarter Fiscal 2023 Financial Results
SAN FRANCISCO, Dec. 8, 2022 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature product as part of its industry leading
About this update from Docusign, Inc.
[{"type":"text","content":"SAN FRANCISCO, Dec. 8, 2022 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature product as part of its industry leading lineup, today announced results for its fiscal quarter ended October 31, 2022.\n\n \n \n \n \n \n \n\n \n\"We delivered solid third quarter results, and are pleased with the continued progress against our critical priorities,\" said Allan Thygesen, CEO of DocuSign. \"DocuSign is the pioneer and leader in eSignature. This gives us a strong foundation to create and deliver a delightful and differentiated workflow experience, making agreements smarter and easier for companies of all sizes. I look forward to continuing to advance our business, as we both innovate and operate at scale to deliver value for all of our stakeholders.\"\nThird Quarter Financial Highlights\nTotal revenue was $645.5 million, an increase of 18% year-over-year. Subscription revenue was $624.1 million, an increase of 18% year-over-year. Professional services and other revenue was $21.4 million, an increase of 27% year-over-year.Billings were $659.4 million, an increase of 17% year-over-year.GAAP gross margin was 80% compared to 79% in the same period last year. Non-GAAP gross margin was 83% compared to 82% in the same period last year.GAAP net loss per basic and diluted share was $0.15 on 201 million shares outstanding compared to $0.03 on 198 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.57 on 206 million shares outstanding compared to $0.58 on 208 million shares outstanding in the same period last year.Net cash provided by operating activities was $52.5 million compared to $105.4 million in the same period last year.Free cash flow was $36.1 million compared to $90.0 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.1 billion at the end of the quarter.A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading \"Non-GAAP Financial Measures and Other Key Metrics.\"\nOperational and Other Financial Highlights:\n2022 Gartner Magic Quadrant Leader. For the third year in a row, DocuSign was named a Leader in the 2022 Magic Quadrant for CLM research report by Gartner, Inc. This...